I don't think it's a smart buy AT ALL. But, I not sure you understand it's product. The product is NOT the web site that people are using for free to post vacation or drunk photos noone else wants to see. It's all the information that the users post. It's the promise to marketers that access to those people through data downloads and adspace is worth a great deal of money.It's not...least not nearly enough to merit it's valuation. The basic math brought this thing down last time it was so highly valued. But, the market has gotten more exuberant/dumber since then...so who knows.
If I were going to get in (I'm not) , I'd hit it today only for a quick in-and-out and not push my luck too much. Even that's 50/50 at best.This kind of spike holding. I don't really see it happening.
That being said, things are worth whatever people are willing to pay for them. But, I'll add, does anybody actually think this thing is worth 10s of BILLIONS of dollars more than it was yesterday?